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Global Medical Malpractice Insurance: A Worldwide ReviewGlobal Medical MalpracticeInsurance: A Worldwide ReviewReport prospectusJune 2016 Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com1

Global Medical Malpractice Insurance: A Worldwide ReviewProspectus contentsPageWhat is the research?What is the rationale?What methodology has been used?How do professional associations surveyed break down?What is the report structure?What are the key features of the research?How can the research be used?How can the PartnerBASE be used?Who can use the research?What are some of the key findings?What is the cost and format?How can the research be purchased? Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com3456789101112-1617182

Global Medical Malpractice Insurance: A Worldwide ReviewWhat is the research?Global Medical Malpractice Insurance: A Worldwide Review is a report about the market for anddistribution of policies covering medical liability as it exists in 20 countries: Australia; Austria;Belgium; Brazil; Canada; France; Germany; India; Ireland; Italy; Japan; Mexico; the Netherlands;Poland; South Africa; Spain; Sweden; Switzerland; the UK; and the US.For 2011, 2015 and with a forecast for 2019, the study breaks down the market for medicalmalpractice insurance not only by country but also, on a standardised basis between the medicineand dentistry category, on one hand, and the category of healthcare-related services, on the other.In particular, the report quantifies the number, growth in number and segmentation of insurableenterprises and individuals in each country from 2011 to 2015 plus the value, growth andsegmentation of the market for medical malpractice insurance over the same time frame and with aforecast to 2019.The study also identifies affinity schemes for medical malpractice insurance set up betweenprofessional associations with a nationwide remit and brokers or underwriters of this type of cover(based on a survey of 943 such associations) and discusses other key issues related to the marketsuch as claims experience. Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com3

Global Medical Malpractice Insurance: A Worldwide ReviewWhat is the rationale?A number of factors combine to form a firm rationale for a report and associated PartnerBASE dataset about medical malpractice insurance at a worldwide level. Above all, this is the onlyfocused research publication on the subject in spite of the fact that the market for this type ofinsurance is estimated by Finaccord to have been worth almost USD 18 billion globally in 2015 andas much as USD 16.4 billion across the 20 countries in scope for the study. In fact, it is a marketabout which published data is often thin even within specific countries.Moreover, it is a complex sector given that it is effectively composed of a series of sub-markets forpolicies acquired by different types of professional enterprises and individuals with a potentialexposure to medical liability. In addition to regular doctors, dentists and hospitals these can alsoinclude midwives, nurses, specialised medical professionals (e.g. gynaecologists, physiotherapists)and vets, plus hospices and private clinics. Alternative medical practitioners (e.g. acupuncturists,homeopaths) are also in scope.Finally, the value of the accompanying PartnerBASE dataset derives from the apparentimportance of affinity schemes, especially those set up in conjunction with professionalassociations, in the distribution of medical malpractice insurance. Indeed, in certain cases, holdingthe medical liability insurance organised by a particular professional body is a pre-requisite tobecoming a member of that body or of being able to practise that particular profession, or both. Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com4

Global Medical Malpractice Insurance: A Worldwide ReviewWhat methodology has been used?The research for this report was carried out during a six-month period spanning November 2015 toMay 2016 and was composed of surveys of both brokers and professional associations plus detailedmarket data modelling.In total, Finaccord contacted 943 professional associations for this research, broken down by countryand category as shown in the pie charts overleaf. The objectives of this survey were to gather dataabout the number and type of members belonging to the association and the total number ofindividuals and / or enterprises eligible for membership, as well as to identify any affinity schemesestablished by them for medical malpractice insurance.The market data for this publication has been built up by means of a data model that takes intoaccount the following data points for 2011, 2015 and 2019 for each country and category: the totalnumber of insurable enterprises and individuals, and their distribution by size; an estimated take-uprate for medical malpractice insurance across these customers; and an estimated average premiumpayable per policy for medical malpractice insurance among insured customers.Both of the latter data points were determined in part by any reliable published data about the marketthat already existed in the public domain and in part by interviews with leading providers of medicalmalpractice insurance that Finaccord carried out as part of its research. Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com5

Global Medical Malpractice Insurance: A Worldwide ReviewHow do professional associationssurveyed break down?BY COUNTRYUK, 56Switzerland,30US, 74Australia, 39Austria, 28Belgium, 40Brazil, 53Canada, 46Sweden, 72France, 45Spain, 32BY CATEGORYNot known /South Africa,Germany, 63 undisclosed, 12347Poland, 24India, 37Netherlands,All corporate, 6443Ireland,84Mexico, 52Japan, 44 Italy, 34Medicine andMixed, 71dentistry, 345BY MEMBER TYPEHealthcarerelatedservices, 598 Finaccord, 2016All individual,684Web: www.finaccord.com. E-mail: info@finaccord.com6

Global Medical Malpractice Insurance: A Worldwide ReviewWhat is the report structure?Executive Summary: provides a concise evaluation of the report’s principal findings.Introduction: discusses rationale, research methodology, sample breakdown and definitions.Global Overview: an overview for all 20 countries of the metrics contained in each country chapter(see below) plus classification of markets for medical malpractice insurance in each countryaccording to whether risks are dealt with only by specialist underwriters, only by generalistunderwriters or by both types.Specific country chapters (20): for each of the 20 countries covered, analysis is provided for thenumber, growth in number and segmentation of insurable customers from 2011 to 2015, theapproximate size and segmentation of the value of the market for medical malpractice insurance in2011 and 2015, and affinity schemes for medical malpractice insurance set up betweenprofessional associations and brokers or underwriters.These chapters also identify leading underwriters of medical malpractice insurance, includingspecialist underwriters (e.g. AMMA in Belgium, Avant in Australia, CMPA in Canada, Coverys in theUS, Doctors Company in the US, the MDU in the UK, MLMIC in the US, the MPS in multiplecountries, Sham in France), and conclude with forecasts for the likely size, growth in size andsegmentation of the market for medical malpractice insurance from 2015 to 2019. Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com7

Global Medical Malpractice Insurance: A Worldwide ReviewWhat are the key features of the research?Key features of this report include: quantification of the market size for medical malpractice insurance across 20 major countriesworldwide which collectively account for around 91.5% of the global market: how much is eachmarket worth, and where is the fastest growth occurring? segmentation of these markets by category: what is the magnitude of the opportunity in thecategory of healthcare-related services as opposed to that of medicine and dentistry? identification of leading underwriters of medical malpractice insurance in each country: to whatextent are medical liability risks dealt with by specialist rather than generalist underwriters? availability of an accompanying PartnerBASE dataset that fully logs over 450 affinity schemesidentified by Finaccord across 943 professional associations with medical professionals and / orenterprises as members; forecasts for the market for medical malpractice insurance segmented both by country and bycategory: how is this sector likely to have evolved by 2019 given rising claims costs which havecaused a significant rise in premiums in recent years? Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com8

Global Medical Malpractice Insurance: A Worldwide ReviewHow can the research be used?You may be able to use this report plus the accompanying PartnerBASE dataset and market datafile in one or more of the following ways: to compare the size, segmentation growth rates and future prospects of medical malpracticeinsurance markets across 20 major countries worldwide; to evaluate the potential for your organisation to target medical liability insurance propositions atspecific types of medical professional in each country; to understand more about the competitive environment for broking and underwriting by bothcountry and category of medical professional; to gain access to a single comprehensive source of information providing broker and / orunderwriter details for over 450 affinity schemes set up by professional associations for this form ofinsurance; to appreciate which countries offer the best long-term potential, which are already saturated withcompetitors, and what product or distribution innovations are occurring. Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com9

Global Medical Malpractice Insurance: A Worldwide ReviewHow can the PartnerBASE be used?Identify insurancebrokersSelect countryMEDICAL MALPRACTICE INSURANCEOffered? Operating model Broker(s)Association nameCountryCategoryAmerican Surgical AssociationUSMedicine and dentistryAmerican Veterinary Medical AssociationUSHealthcare-related servicesYesApplied Behaviour Analysis InternationalIrelandArbeitgeber- und Berufsverband Privater Pflege GermanyHealthcare-related servicesHealthcare-related servicesYesYesArte Terapia AssociatiItalyHealthcare-related servicesYesArtsen Jeugdgezondheidszorg NederlandNetherlands Healthcare-related servicesNoLook up specificassociationsFilter by professionalcategoryUnderwriter(s)NoExternal underwritervia external brokerExternal brokerExternal brokerMultiple externalunderwritersHUB InternationalZurichOBF InsuranceFunk GruppeundisclosedChooseoperating modelACE European Group, RSAIdentify insuranceunderwritersSource: Finaccord PartnerBASENote - The PartnerBASE also includes data for the number of members of each professional association, the percentage ofthose members that are individual members (as opposed to corporate members) and the category subset of those members(e.g. physiotherapists within ‘healthcare-related services’, surgeons within ‘medicine and dentistry’). Finaccord, 2016Web: www.finaccord.com. E-mail: info@finaccord.com10